Repsol YPF

LNG 2007

In mid-2005, Repsol YPF and Gas Natural SDG formed the company "Stream" (Repsol-Gas Natural LNG, SL) for their joint participation in the form of a consortium, integrated projects in liquefied natural gas (LNG), including exploration, production, liquefaction of natural gas reserves and the marketing and transport of liquefied natural gas. 

It is the third largest group in the world for LNG transport and the first operator in the Atlantic basin. In 2007, it
marketed a volume of 18.5 bcm of LNG, and conducted operations with Trinidad and Tobago, Nigeria, Oman, Libya, Egypt and Qatar, managing a total of 231 shipments. 

In November 2007, Knutsen OAS delivered  the Sestao-Knutsen LNG carrier, which has capacity to carry up to 138,000 cubic meters of gas. With this addition, Stream currently operates a fleet of 12 LNG carriers. 

In 2007 a contract was signed in the form of a time charter of four new ships to transport LNG, one with Naviera Elcano and three with Knutsen OAS. The four ships, which will become operable in 2010 for the Peru LNG project, will have a nominal capacity of 173,000 cubic meters of LNG each, and incorporate the latest technologies available. In the first half of 2009, the fleet will be expanded with a new Knutsen vessel, already in operation. 

For Repsol YPF, the signing of these contracts is a new step that strengthens the excellent position of the company in the integrated Liquefied Natural Gas business, which is one of their main lines of growth in the coming years.

LNG Marketing

In April 2003, Repsol YPF and Gas Natural SDG signed an agreement for the supply of 1.6 bcm of gas annually for a period of 20 years of combined cycle that the Gas Natural SDG Group launched in late 2005 in Cartagena. In 2007, Repsol YPF continued to supply LNG from Trinidad and Tobago to the regasification plant in Cove Point, on the east coast of U.S. It also continued sales to BBE through the "backfill" contract with Gas Natural SDG, which began in October 2003. In 2007, cargo swaps and spot operations were carried out, according to the needs or market opportunities. 

In North America, Repsol will market the gas from the Canaport plant in eastern Canada and the northeastern United States, through the pipeline in New Brunswick (Canada) and Maine (USA), once the plant become operable in late 2008 or early 2009. Also, it will market 100% of gas from the Perú LNG project from the launch of the liquefaction terminal (scheduled for 2010), which will be earmarked for the regasification plant in Manzanillo, Mexico and other markets along the Pacific coast.

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